Training in diamond valuation is key for artisanal miners

Ian Rowe, the Executive Director of the Diamond Development Initiative (DDI) was appointed in September 2019, having joined DDI as Deputy Executive Director a year earlier. Ian managed field operations in Sierra Leone within this role and led...

02 december 2019

Kangalassi 2.0: Raising the living standards, creating new jobs

At the V Eastern Economic Forum (EEF) held in early September in Vladivostok, the Yakut company SAYBM signed a tripartite agreement with two agencies - the Far Eastern agency and the regional one - for attracting investments and providing export...

25 november 2019

We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

18 november 2019

De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Belgian-quality diamond boiling in Dubai from TRIGEM

Born in New York, David Zabinsky is CEO & Co-Founder of TRIGEM, an independent diamond service provider in Dubai. Before TRIGEM, David was Manager at Ras Al Khaimah Economic Zone, where he was responsible for securing North and South American investment...

05 november 2019

Hong Kong luxury retail sales hit due to prolonged unrest

07 august 2019
The volatile anti-government protests in Hong Kong are piling on numerous challenges to the city's high-end retailers. Luxury sales in Hong Kong fell 17.1% y-o-y in June, according to provisional figures released by the Hong Kong government.
Data from the Hong Kong Census and Statistics Department showed that retail sales in June reached an estimated HK$35.2 billion (around US$4.5 billion). Sales plummeted 2.6 percent in the first half of the year.
Figures also showed that sales of jewelry, watches, clocks and valuable gifts at retail outlets in Hong Kong reached HK$5.75 bln, down from HK$6.94 bln in June 2018.
Hong Kong's exports fell 2.1% y-o-y  in the three months to May 31, while shipments to the U.S. dropped by 35.4% during the same period. Furthermore, Hong Kong on July 31 reported 0.3% contraction in GDP for the second quarter of 2019 from the first quarter.
The protests also comes at a time when Hong Kong's position as Asia's luxury retail hub is coming under increasing pressure, particularly from mainland China.There are also signs that the slowdown in the Chinese economy is causing some consumers to adjust their buying patterns.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished